Audit and Risk Committee Minutes 28.10.2020

Minutes of the Meeting of the Cardiff University Audit and Risk Committee held on Wednesday 28 October 2020 by Zoom, at 15:45

Present: Michael Hampson (Chair), Dónall Curtin, Dr Janet Wademan and Agnes Xavier-Phillips.

In Attendance: Professor Colin Riordan, Jason Clarke, Ian Davies, Clare Eveleigh, Vari Jenkins (Minute-taker), Faye Lloyd, Ruth Robertson, Robert Williams, and Wendy Wright.

860 Preliminaries

Noted

860.1 that apologies were received from Paul Benjamin and Rashi Jain, Alison Jarvis and Claire Sanders;

860.2 that the meeting was to focus on consideration of going concern in the financial reporting.

861 Going Concern Review 2020-21 and 2021-22

Received and considered for debate paper 20/143C, ‘Going Concern Review 2020-21 and 2021-22’ and 20/144C Current Financial Projections 2020-21, 2021-22 and 2022-23. The Chief Finance Officer was invited to speak to this item.

Noted

861.1 [Redacted]

861.2 [Redacted]

861.3 [Redacted]

861.4 [Redacted]

Resolved

861.5 Council would benefit from receipt of a paper on the Going Concern Review.

861.6 the Audit and Risk Committee agreed with the statement that “It is management’s view that the University has sufficient funds available to December 2021 for the University’s financial statements to be prepared on a going concern basis.”